Scale Economies in Small Entrepreneurial Firms.
For a sample of small, entrepreneurial firms, subjective cost curve estimates are obtained by field work methods using an administered questionnaire and "show cards." They indicate the prevalence of static, short-run increasing returns up to maximal output for a wide range of products in manufactures, services, construction, and transport. The dynamic scale effect, measured over a three-year period, is less clear and suggests a slight average tendency to dynamic increasing returns. Finally, cross-section econometric estimates of production functions, with no restriction imposed on the degree of homogeneity, suggest a long-run tendency to decreasing returns. Copyright 1992 by Scottish Economic Society.
Year of publication: |
1992
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Authors: | Reid, Gavin C |
Published in: |
Scottish Journal of Political Economy. - Scottish Economic Society - SES. - Vol. 39.1992, 1, p. 39-51
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Publisher: |
Scottish Economic Society - SES |
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